16. Abdulsamad Rabiu
Net Worth: $700 Million
Industry: Consumer Goods
Abdulsamad Isyaku Rabiu is estimated to have a net worth of $700 million according to Forbes ($1.5 billion according to Ventures Africa).
This prominent Nigerian business man was born in 1928 in Kano, Nigeria. He was born in a business oriented family. He learnt the business acumen from His father who was also a successful businessman, and also a religious scholar.
His main line of business includes trading in commodities such as sugar, rice, and vegetable oil. Currently, He is the chairman of BUA group which is also involved in flour milling, sugar refining, and processing of vegetable oil.
Abdulsamad Rabiu has been named Africa’s newest billionaire in Forbes’ November 2013 issue.
Abdulsamad’s fortune grew from $670 million in 2012 to $1.2 billion this year, according to Forbes Africa.
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